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Jeff Bezos became the richest billionaire on Monday, beating Elon Musk.
This means the Amazon founder and his estimated personal wealth of $200.3 billion currently sit in the top spot, according to Bloomberg and its Billionaires Index.
Musk’s net worth of $197.7 billion, much of it coming from Tesla stock, was about $2.6 billion lower than his billionaire status as of late Monday afternoon. The outlet reported.
Elon Musk speaks on stage at the New York Times Dealbook Summit held at Jazz at Lincoln Center in New York City on November 29, 2023. (Slaven Vlasic/The New York Times/Getty Images)
Bloomberg tied it to Tesla’s stock performance, including Monday’s 7% drop. Since the beginning of 2024, the electric car maker’s stock price has also fallen by more than 27%.
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Monday’s change at the top of the Billionaires Index marked a milestone of sorts for both technology leaders, the outlet said.
Jeff Bezos stands on the sideline before the Chiefs play against the Los Angeles Chargers at GEHA Field at Arrowhead Stadium on September 15, 2022 in Kansas City, Missouri. (Cooper Neal/Getty Images)
According to Bloomberg, the last time Musk fell from the top of the rankings was more than nine months ago. Meanwhile, Bezos most recently ranked first in 2021.
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Amazon’s stock price has risen more than 17% since the start of 2024, and this is due to Bezos’ personal fortune and $900 million still in stock at the end of February, after he sold his company’s stock for $8.5 billion under a pre-arranged deal. This has helped raise its holdings of 38.25 million shares. trading plan.
Jeff Bezos and Elon Musk (Liisa Johansen-Kopitz/Bloomberg via Getty Images | Jim Watson/AFP via Getty Images)
Currently, the difference in the net worths of Mr. Musk and Mr. Bezos is so small that their positions on Bloomberg’s list could easily reverse depending on the performance of Amazon and Tesla stocks.
Musk has previously battled with LVMH CEO Bernard Arnault for the top spot in Bloomberg’s rankings.
As of Monday, the difference in personal wealth between Mr. Musk and Mr. Arnault was less than $1 billion, the paper said.
The world’s top five richest people have increased their wealth by 114% since 2020
